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. according to the faa, flights into new york, baltimore, and washington are delayed because of not enough controllers on hand to monitor the busy corridors. joining me now, president of boy group international and erik hanson, director of domestic policy for the u.s. travel association. welcome to you both. i will start with you, mike. what do you make of this? the fda is saying many of these delays are two hours or more. is is the fault of sequestration or is something else, not? >> it is the fault of politics. sequestration is 600 mlion out of the faa budget. 4 percent. they still have a billion dollars in their budget, more than they did in 2008 and 8% fewer flights. no one in aviation is buying this. thiss a political stunt, and that is all. gerri: do you agree? >> i don't know if it is a political side, but it is certainly politics at its worst. for the travel industry, a key driver of the economy, we cannot afford to sit here and have congress pointing the finger at the administration, the administration putting the figure of congress. travelers are stuck in the airport. travel in t
. the faa reported the first day of furloughs resulted in delays of more than three hours on arrivals at los angeles - less than that at other airports. "i was delayed from laguardia. we were on the ground for about an hour. they made it up in the air, but we were delayed today." but delays in chicago were spotty, though passengers were bracing for them. "we had a business meeting this morning that we pushed back back an hour but it was smooth sailing from austin." - will you make an adjustment on future flights? "no, i think it's a more scare tactic than anything else." others got that same sense. oklahoma senator tom coburn called the furloughs "a dangerous political stunt," saying that more than $100 million could be saved by using fewer consultants, supplies and less travel, and pointed to the transportation security administration, which has managed to avoid furloughs. "being a flight attendant and working as a flight attendant, i care about safety, and when you cut people out of the tower, that's safety." as of now, the furloughs mean all 47,000 faa employees, including 15 controllers,
is suing the faa to halt the budget cuts. >> the faa has and should have exercised the discretion not to furlough air traffic controllers who never in the history have been furloughed before by any budget sequestration or any shutdown of the faa or anything like that. >> and even the white house admits this was never supposed to happen. at reagan national airport, i'm hampton pierson for "nightly business report." >> flying may be more difficult these days but there's good news for drivers. prices at the pump are down $.11 a gallon over the last two weeks and could fall by another.20 as we get closer to memorand e err memorial day. >>> leading sectors were energy and technology, ahead of the after the bell earnings. the dow ended the day 19 points higher and the s&p 500 added 7. the price of gold rebounded today, surging nearly $26 to $1,421 announced. but last week as the price of gold was falling, investors pulled $2.7 billion out of gold exchanged traded funds. most of the money was invested in international stock. >> turning to market focus. texas instruments reported the prof
. >> heartbreaking to look at it. >> the faa is starting its furlough program, forced days off. >> delays at some of the nation's busiest airport. >> the government needs to get their act together. >> tsa, putting a temporary hold on the controversial policy change that would have allowed small >> a proposal to make it illegal to buy tobacco unless you are 21. >> and at the location where he dropped -- >> innocent men, women, and children. you get paid for it. >> which is your strongest -- >> honestly i don't know. >> is there someone we could call. >> freedom rock woodstock, and his songs were an an them for a generation. richie havens has died. >> i was never in show business. i was in the communications business. >>> a rookie news anchor clemente, thought his knife was off. >> by the way, a.j. was fired today. >> and, man, that sounds like an idiot. >> this morning's eye opener presented by prudential. >> wel "cbs this morning." good morning, norah. >> good morning, charlie. welcome back. >> good to be back. >>> the hospital treating the marathon bombing suspect was turned i
on a sequester cuts through airport delays. where the faa could have cut the that the president had let him. outrage tuesday rolls on after this. stuart: this is an understatement, netflix shares are up this morning. way up. more people signed up to pay for netflix after three months of "house of cards." people loved it. many people subscribe to netflix now, almost as much as hulu, hbo. iphone sales expected to be down. apple down this year, up only $1 now, below 400. look at coach. i always considered it a demographic luxury. sales are up better than expected, coach is assuming 11%. $5 stocks hitting all-time high. all of them are up. up 125. outrage tuesday rolls on in a moment. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ ♪ the middle of this special moment and i need to run off to the bathroom. ♪ i'm fed up with always having to put my bladder's needs ahead of my daught
: sequester is faa starting air traffic controller furloughs yesterday it has been warning for months this day would becoming. and delays would follow, so far it is pretty. the usual havoc and delays. you would not know it looking at headline, main street media, airline and flight sshools sinker ravel guru mark murphy said that administration is manufacturing this mess. he does not deny the lines but deny so call reasons. >> i think it just forced, they want it to be difficult, it there is no reason. are we spending more money this year than last year, are we not going to spend a trillion more in 2013, than we spent in 2007. neil: faa has a higher budget this year than last year, i having said that, what is in it for them, if you think about. everything i think trickles down to the president good or bad. >> a few months they played the hand it was a disaster, they walked it back, they saw of it not a disaster we just slowing increase in spending. neil: your facts are dead obut these cuts would be rolled in this is latest more come ing on the travelling, you say it is a nightmare because there
of sequester budget cuts on the faa . the worst delays on east coast, including new york's laguardia, one out of 5 tier oeveryfive flights before noon s delayed. congressional republicans say, bull. they charge obama administration is structuring cuts to make them as painful and obvious as possible. >> federal reserve chairman ben bernanke will not be at jac jacn hole sim this year. my next guest said that we' seeing a slowdown in the economy after a stock first quarter, joining us, wells fargo chief economist, john sylvia, you see a slowdown here? >> there is a slowdown that is what bothered market, stock market a little bit, we a single family housing stocks, retail sales disappointing. building into the commodity market, chinese economic growth is disappointing. people at the inning of year think this economy will take off, and earnings will be strong, then as year goes down they tamper down those expectations. >> you know there is one stock that stands a metaphor, caterpillar, we see themith disappointining results off 42 their earnings, because they are off in the mining sector, but they
, the sequester. the faa told us they don't have enough people at kennedy so oui not taking off. i said you have to be kidding me? i'm sorry. wield have loved to announce it to people so you could go mack your calls, but the faa has ordered a full stop and we are not allowed to do anything and we have no idea until two minutes ago. >> what about the sequester's impact in a real way on ticket sales particularly for government employees and the like and travel will? i know we reported decent quarters and i know we've been talking about them as investments for the first time ever as opposed to trade. >> there is a concern for business travel and leisure travel. >> the board says on time, and they have no control of whether it's on time. suddenly on time means nothing, david. on time means nothing because if you look at it they don't know. i said, come on, delta has to know. the faa said please tell people it's because we're shorthanded and we don't want to be shorthanded in kennedy when you land, and i thought that was wise. i too, would like enough air traffic controllers to handle kennedy opinion
but this investigation is going beyond that. this is looking at the f.a.a. pros for certifying airplanes. the way it works now is the f.a.a. does rely on the manufacturer because they want to get the planes certified in a timely manner. what the original process found with the battery, maybe it could catch on fire once every 10 million flight hours. what happened were two fires in 52,000 flight hours. since then the battery has been resigned and the company is saying and the government is saying that redesigned battery should be just fine. take a listen. >> we believe that the work that was done on the original battery, that that failure rate was an appropriate failure rate and we believe that we've restored that design intent at this point. >> it's still concerning there's no root cause yet discovered by the company or the government as to why the batteries caught fire. one in the air by japan and the other at boston's logan airport. as for the logan fire, the f.a.a. was asked whether or not there could have been a problem if the plane was in the air and they say they don't know how to make the
caught up in the faa sequester and this is probably the first hand account of sewing th seeing this. >> we were about to take off and the pilot comes back and doesn't see me cnbc. the faa says we don't have enough air traffic controllers to take off. i said is this from delta? the faa wanted to make it very clear to everyone onboard is that the reason we're not taking off is because they're shorthanded. oh, jim kramer from cnbc, would you please get the word out that we're not taking off because the faa said you cannot come from orlando. we're not ready. we don't have enough people. it was pretty amazing. >> it was orlando to where? la guard wra? >> orlando to kennedy. >> it was absolutely not a weather delay. we are ready to go. delta is ready to go. the faa says listen, you can't come in. we don't have enough people. we can't do the job. it was remarkable. we said how long? two and a half hours? why is that? >> maybe two and a half hours the faa says they might be able to round up enough people to land the airplanes in kennedy. >> that is stunning. i was watching in horror because
what those jitters say about the state of the this market coming up. ashley: outrage over faa furloughs and flight deys. lawmakers demanding answers from the white house. but those delays not stopping airline stocks from soaring. they're in the green today. we'll have all of that straight ahead. tracy: everyone is talking apple expected to report its first quarterly profit drop in 10 years. can apple do anything to stop the slide? we'll have a preview coming up. ashley: first at to the top of the hour, stocks back on track after a steep drop last hour. nicole petallides on the floor of the new york stock exchange. sandra smith is in the pits of the consider me. let's begin with nicole. i guess it as hacker flash crash of sorts, nicole. >> that is good way to call it. this is moment, whew, its all done. we made it through. look where market averages are. they are virtually where they were moments before we saw the market move into negative territory. the dow industrials up 130 points, a gain of 1%. like s&p 500, tech-heavy nasdaq best of the bunch. continuing trend we've seen three days
to sequestration. in the earnings call for delta, say expressed concern about the sequester delays and the faa staffing hurting business down the road. by the way, yesterday, 1,200 flights were delayed due to low staffing and today on "power lunch" when we talked with the secretary of transportation, he said, guess what, it's going to get worse. >> it's probably going to get worse, phil, because we haven't experienced any bad weather. we know there are going to be thunderstorms in chicago. we know there are going to be thunderstorms over the new york air space. we know that there are going to be storms coming in off the pacific ocean in l.a. and in san francisco and when that happens, this will only get worse. >> so as you take a look at the airline index, which has been moving higher over the last six months, keep this in mind, bill and maria, so far, we have not seen advanced bookings hurt because people are worried about delays is and their trips being ruined. but that potential is out there, especially as we head into the busy summer travel season. maria? >> phil, thank you so much. so is
penalty. >>> passengers experienced some delays at u.s. airports on monday as the faa began imposing furloughs of air traffic controls. but the widespread traffic never really materialized. flight aware.com says only about 150 flights were canceled. and is while some people waited nearly two hours to take off, delays were much shorter on average. let's get more now from aviation industry consultant ray. ray, good to see you. this isn't just a story about monday, is it? the real question is what happens as these furloughs continue to play out? >> yes. it's going to take at least a couple of days before we see the full impact of these budget cuts. >> talk a little bit about what's coming down the pike. it's pretty significant, to some extent. >> it is. and i think this puts forward a good argument on why the faa should be a public corporation in the u.s. with its own budget to get away from some of the politics of washington. this is a mandatory type of function that the airlines do need and is it's going to be very costly to the airlines, i believe, if this situation continues to move
it is for the airline expressed concerns due to the faa furloughs impacting their business in the second and third quarters. with more delays expected some on wall street are worried the sequester could warn potential airline customers not to fly. >> people get to vote their vacation dollars however they want and they see that it's a hassle to fly more than it's normally a hassle to fly and they may vote and, you know, differently and with lower gasoline price s they might get people driving to their vacation rather than flying. >> so far bookings have not been hurt by sequester delays, but there is a genuine concern that if the longer they last and if they become worst, people who were planning to take a flight might decide not to take that trip. phil lebeau, "nightly business report," chicago. >>> we are just two weeks into the first quarter earnings season and you've probably noticed that many companies have been reporting earnings that are better than investors expected and there are also weak forecasts for the rest of the year like the one we got fro apple tonight. with 20% of s&p 500 compani
, i think they should furlough the president and congress. >> the faa claims it had no choice but to put 15,000 controllers on unpaid furloughs, which means 10% fewer of them working each day. that could mean delays of 3 1/2 hours in atlanta, two hours in chicago and 1 hour and 20 minutes in laguardia. the airlines are furious and argue there are other places to cut. >> the air traffic controllers have never been furloughed. they should not be furloughed now. >> the controllers complain they're being used as political pawns. >> it's the piece of sequestration that affects americans the most. and i don't think that it's fair that air traffic control, particularly air traffic controllers are being used as a pawn. >> ray lahood has a message. >> tell them to fix sequester, and this will go away. >> the administration seems to be saying that any solution to put the air traffic controllers to work must include an overall roll back of the sequester. which does not look like something that's going to happen any time soon. the next few months could be a nightmare for travelers. >> the
of regulators and company officials asserted by the plant's safety. to say manpower, the faa designates employes and aircraft makers will see the safety testing of new planes. >> the obama administration says, it has seized 21 million from troubled of leg of his carauto maker fisker automotive. that's just weeks after the company laid off 3/4 of its workers, amid continuing financial and production problems. fisker had already received nearly 200 million, o 29 of the $529 million federal loan, before the problems which led officials to freeze the loan in 2011. it has pledged its assets as collateral. the government was given to the anaheim based company is part of an obama in ministration program to boost electric cars, and other advanced vehicles. the nation's biggest banks are rolling out the next generation of 80 atm s the latest model including features like video chatting with a live teller in getting changer paying your credit card bill. bank of america's new tellers is machines for example allowed a customer to swipe a debit or credit card, driver's license or photo id for authentication.
Search Results 0 to 18 of about 19 (some duplicates have been removed)